Dyne Therapeutics (NASDAQ:DYN) Price Target Lowered to $32.00 at Robert W. Baird

Dyne Therapeutics (NASDAQ:DYN) had its target price reduced by Robert W. Baird from $46.00 to $32.00 in a report published on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

DYN has been the topic of several other research reports. BMO Capital Markets assumed coverage on Dyne Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $50.00 target price on the stock. Piper Sandler lowered their price target on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Raymond James Financial initiated coverage on Dyne Therapeutics in a research note on Wednesday, June 11th. They issued an “outperform” rating and a $37.00 price target for the company. Chardan Capital reissued a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research note on Tuesday. Finally, Oppenheimer initiated coverage on Dyne Therapeutics in a research note on Monday, June 2nd. They issued an “outperform” rating and a $34.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.93.

Dyne Therapeutics Price Performance

NASDAQ:DYN opened at $10.78 on Wednesday. Dyne Therapeutics has a fifty-two week low of $6.36 and a fifty-two week high of $47.45. The stock’s 50-day moving average is $11.46 and its two-hundred day moving average is $14.84. The stock has a market cap of $1.23 billion, a PE ratio of -3.00 and a beta of 1.16.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.17). On average, equities research analysts anticipate that Dyne Therapeutics will post -3.44 earnings per share for the current year.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in shares of Dyne Therapeutics by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 234,798 shares of the company’s stock valued at $5,532,000 after acquiring an additional 698 shares during the period. Summit Investment Advisors Inc. lifted its position in Dyne Therapeutics by 9.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company’s stock worth $203,000 after purchasing an additional 721 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Dyne Therapeutics by 5.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 22,690 shares of the company’s stock worth $237,000 after purchasing an additional 1,115 shares during the period. E Fund Management Co. Ltd. lifted its position in Dyne Therapeutics by 11.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 11,848 shares of the company’s stock worth $279,000 after purchasing an additional 1,249 shares during the period. Finally, Arizona State Retirement System lifted its position in Dyne Therapeutics by 9.2% in the first quarter. Arizona State Retirement System now owns 17,501 shares of the company’s stock worth $183,000 after purchasing an additional 1,481 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.

About Dyne Therapeutics

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.